Wall Street Reacts as Surprise Wholesale Inflation Data Casts Doubt on September Fed Rate Cut
Wall Street Reacts as Surprise Wholesale Inflation Data Casts Doubt on September Fed Rate Cut NEW YORK – Major U.S. stock indices experienced declines on Thursday following an unexpected surge in wholesale inflation, which surpassed economists’ forecasts for last month. Despite broad market weakness, significant gains from leading Big Tech companies, including Amazon, helped to mitigate overall losses on Wall Street. Seven out of ten stocks in the S&P 500 saw declines, yet the index managed a marginal gain of…